Updated May 15, 2023
Guyana: An Overview
Located on the northern coast of South America between
Suriname and Venezuela, English-speaking Guyana has
characteristics similar to other Caribbean nations because of
a common British colonial heritage (Guyana became
independent in 1966). The country participates in Caribbean
regional organizations, and its capital, Georgetown, serves
as headquarters for the Caribbean Community
(CARICOM), a regional integration organization. Once one
of the poorest countries in the hemisphere, Guyana’s
development prospects have shifted significantly since the
discovery of large offshore oil deposits in 2015.
Figure 1. Map of Guyana
Source: Congressional Research Service.
Political and Economic Environment
Guyana has a hybrid republican/parliamentary form of
government, with a 65-member unicameral National
Assembly. The presidential candidate of the party or
coalition receiving the most votes becomes president, and
the president appoints the prime minister and Cabinet.
Current President Dr. Mohamed Irfaan Ali of the People’s
Progressive Party/Civic (PPP/C) won the country’s March
2020 elections, defeating incumbent President David
Granger, who led a coalition consisting of A Partnership for
National Unity (APNU) and the Alliance for Change
(AFC). In the National Assembly, Ali’s PPP/C took a
majority of 33 seats, the APNU/AFC coalition won 31
seats, and a smaller party won the remaining seat. Marred
by allegations of fraud, final elections results were delayed
until August 2020 after a recount by a CARICOM team and
multiple legal challenges by supporters of the previous
Granger government.
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After his inauguration, President Ali appointed retired
military leader Mark Phillips as prime minister and former
President Bharrat Jagdeo (1999-2011) as vice president.
Some observers contend that Jagdeo, who was
constitutionally prohibited from seeking a third term, plays
a key role in policy decisions. Guyana’s next national
elections are not due until 2025; local elections were
expected to be held in late 2022 but were postponed until
June 12, 2023. Local elections could serve as a referendum
on the ruling PPP/C’s performance.
Guyana at a Glance
Population: 794,000 (2023 est., IMF)
Ethnic Groups: Indo-Guyanese, or those of East Indian
heritage, almost 40%; Afro-Guyanese, almost 30%; mixed,
20%; Amerindian, almost 11% (2012 est., CIA)
Area: 83,000 square miles, about the size of Idaho
GDP: $16.3 billion (2023, est., current prices, IMF)
Real GDP Growth: 20.1% (2021); 62.3% (2022); 37.2%
(2023, forecast)(constant prices, IMF)
Per Capita GDP: $20,540 (2023 est., current prices, IMF)
Sources: International Monetary Fund (IMF) and Central
Intelligence Agency (CIA), World Factbook.
Political affiliations in Guyana often fall along ethnic lines.
The ruling PPP/C, which traditionally has been supported
by Indo-Guyanese, governed Guyana from 1992 to 2015.
The largest party in the opposition APNU coalition is the
People’s National Congress Reform (PNCR), which
dominated the political system from independence until
1992 and draws support from an Afro-Guyanese base. The
other main opposition party, AFC, identifies as a multiracial
party. In the aftermath of the 2020 election crisis, some
experts expressed concern about an increase in ethnic
tension and called for the adoption of a more ethnically
inclusive approach toward governing.
Oil Changes Guyana’s Economic Outlook
Guyana’s economy traditionally was based on agriculture
(rice and sugar) and mining (gold and bauxite), but the
discovery of significant amounts of offshore oil bolstered
the country’s development prospects. The U.S. Geological
Survey estimates reserves of 13.6 billion barrels of oil and
32 trillion cubic feet of gas. ExxonMobil leads a consortium
that includes Hess and China National Offshore Oil
Corporation and has been involved in oil and gas
exploration in Guyana since 2008. Since 2015, the
consortium has identified numerous commercially viable
discoveries in the Stabroek Block, about 120 miles
offshore. Production began in December 2019, reached
120,000 barrels of oil per day (b/d) in 2021, exceeded a

target of 340,000 b/d in 2022, and could reach 1.2 million
b/d by 2027, according to ExxonMobil. ExxonMobil is also
the operator in two other offshore oil blocks in Guyana. In
February 2023, Vice President Jagdeo announced Guyana’s
plans to reclaim 20% of Exxon’s oil block. Critics maintain
that ExxonMobil’s current contract with Guyana is
unfavorable, with the country receiving less than 15% of oil
proceeds.
In December 2022, the Guyanese government announced
plans to auction 14 new blocks for offshore oil exploration
on terms that would provide more economic benefits to the
country. In January 2023, the Ali administration engaged in
talks on allocating offshore blocks for oil and gas
exploration with Qatar, the United Kingdom, the United
Arab Emirates, and India. The 14-oil block auction was set
for April 2023 but has been postponed until July 2023 to
reassess Guyana’s oil and gas regulatory framework.
Guyana’s oil production has enabled the country to
withstand much of the economic fallout from Coronavirus
Disease 2019 (COVID-19). In 2020, despite a global
recession, Guyana’s economy grew almost 44%, according
to the International Monetary Fund. The economy grew
20.1% in 2021 and 62.3% in 2022; the forecast for 2023 is
37.2% growth. In 2019, Guyana’s National Assembly
approved legislation establishing the Natural Resource
Fund (NRF), a sovereign wealth fund for managing the
country’s oil wealth. In December 2021, the government
approved legislation amending the NRF’s regulatory
framework, maintaining the action would ensure greater
transparency and accountability. Guyana’s 2022 budget is
the first benefitting from NRF financing, which the
government maintains will support infrastructure
investments, including in energy and transportation, and
social expenditures in health and education.
U.S.-Guyana Relations
U.S. relations with Guyana improved in the early 1990s
when the government moved away from one-party
domination of the political system and embraced a market
economy and free and fair elections. According to the State
Department, U.S. policy toward Guyana seeks to support
robust and sustainable democratic institutions, an
empowered civil society, economic growth and
development, and stability and security.
In June 2022, President Biden and Vice President Harris
met with President Ali and other Caribbean leaders at the
Ninth Summit of the Americas in Los Angeles, California.
Discussions centered on the impact of climate change; food
and energy insecurity; lack of access to financing; and
security cooperation and engagement, including addressing
small arms trafficking. At the summit, Vice President
Harris announced the U.S.-Caribbean Partnership to
Address the Climate Crisis (PACC 2030), a new initiative
aimed at facilitating renewable energy infrastructure
development and bolstering resilience to climate-based
natural disasters.
In September 2022, Vice President Harris held a follow-up
meeting with several Caribbean leaders, including President
Ali, with talks centered on U.S.-Caribbean collaboration on
promoting energy security, access to finance, and food
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Guyana: An Overview
security. Guyana co-chairs a U.S.-Caribbean action
committee on food security, an outcome of the June 2022
Summit of the Americas. At the September 2022 meeting,
the United States committed $28 million to provide food
security assistance to the Caribbean and to undertake a
series of actions recommended by the food security
committee.
Trade
As Guyana has become an oil-producing nation, trade with
the United States has increased significantly. The United
States ran a trade deficit of roughly $1.64 billon with
Guyana in 2022, with U.S. exports valued at $1.18 billion
and U.S. imports valued at $2.82 billion. Guyana is a
member of two Caribbean Basin Initiative (CBI) trade
preference programs. Since 1988, Guyana has been a
beneficiary of the Caribbean Basin Economic Recovery Act
(P.L. 98-67, as amended, with no expiration), a preferential
trade program for Caribbean imports. Since 2000, it has
been a beneficiary of the Caribbean Basin Trade
Partnership Act (Title II of P.L. 106-200, extended through
September 2030), which provides enhanced tariff
preferences for certain imports, including goods made with
U.S. yarns, fabrics, and threads.
U.S. Foreign Aid
The United States provided $1.8 million in assistance to
Guyana in FY2021 from all U.S. agencies
(https://foreignassistance.gov/cd/guyana/, latest full-year
information available). The top categories included support
for health, education, and environmental programs, and
programs to strengthen government institutions and civil
society. In FY2022, the United States obligated $190,000
for International Military Education and Training (IMET).
The Biden Administration requested $200,000 for IMET for
FY2023 and $250,000 for FY2024.
Among U.S. aid programs, Guyana has received assistance
since 2004 to combat HIV/AIDS through the President’s
Emergency Plan for AIDS Relief program. Since 2009, it
has benefited from aid provided through the Caribbean
Basin Security Initiative (CBSI), a U.S. regional aid
program to combat the drug trade and improve citizen
security. CBSI support has provided patrol boats, training,
and equipment for police and customs units and assistance
for youth programs and juvenile justice reform. Before the
suspension of a Peace Corps program due to the COVID-
19, Guyana hosted some 60 volunteers working on
education, health, and environmental projects. In December
2022, Peace Corps Guyana swore in the 33rd group of
volunteers, which consists of 18 volunteers to work on
addressing early childhood literacy, adolescent health, and
environmental stewardship.
For additional information, see CRS In Focus IF10789,
Caribbean Basin Security Initiative and CRS Report
R47432, Caribbean Trade Preference Programs.
This In Focus updates an earlier version written by former
CRS Specialist, Mark Sullivan.
Karla I. Rios, Analyst in Latin American Affairs
IF11381
 Guyana: An Overview

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